Wealth/financial planning

Thinking about how best to pass on your wealth? If so, our independent wealth planners suggest asking yourself these four important questions.

New legislation has come into force which requires the majority of UK-resident trusts to be registered with the Trust Registration Service by 1 September 2022. If you are a trustee, you may need to register the trust you act for with HM Revenue & Customs (HMRC) using the government’s online Trust Registration Service (TRS).

In this world of ours very little stands still. The same can be said for the pensions landscape. As high earners are faced with even more restrictions and potential pitfalls, it is vital to understand the rules and seek specialist wealth planning advice. Luckily, there are plenty of tax-efficient options available to high earners wanting to save for retirement.

Pensions are among the most tax-efficient ways to invest for your future. But pension rules are complex – and the most recent changes in legislation have made them even more challenging. What do the new rules mean, and could you benefit from them?

There is a limit to how much you can save into your pension tax-free over your lifetime, known as the lifetime allowance (LTA). It’s been controversial because the government has steadily reduced the limit down from £1.8m in 2012 to its current level of £1,073,100.